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A Fresh Look at the Health-Wealth Correlation: A Case Study of European Countries

Author

Listed:
  • Shoshana Neuman
  • Tzahi Neuman
  • Teresa García-Muñoz

Abstract

This paper contributes to the development-health literature by studying the correlation between development measures (see below) and health measures - one subjective ('self-assessed-health-status'), and the other one objective (the individual's 'number of chronic diseases'). Correlations are examined for 29 European countries, using the SHARE data set, and country-level development measures. Specifically, we examine whether country fixed-effects in regressions of health measures, controlling for individual socio-demographic variables, are significantly correlated with country development variables, which include: logarithm of per-capita GDP; the Human Development Index; the Social Progress Index; life expectancy; percentage of GDP spent on health; and the novel measure expressed by the Environmental Health Index. The novelty of our study is the introduction of a channel for the significant health-wealth correlation, speculating that the driving forces are psychological.

Suggested Citation

  • Shoshana Neuman & Tzahi Neuman & Teresa García-Muñoz, 2019. "A Fresh Look at the Health-Wealth Correlation: A Case Study of European Countries," Discussion Papers 52, Central European Labour Studies Institute (CELSI).
    • Handle: RePEc:cel:dpaper:52
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    File URL: https://celsi.sk/media/discussion_papers/DP52_A9cNKYY.pdf
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    References listed on IDEAS

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    1. Daron Acemoglu & Simon Johnson, 2007. "Disease and Development: The Effect of Life Expectancy on Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 115(6), pages 925-985, December.
    2. Bloom, David E. & Canning, David & Sevilla, Jaypee, 2004. "The Effect of Health on Economic Growth: A Production Function Approach," World Development, Elsevier, vol. 32(1), pages 1-13, January.
    3. Guillermina Jasso & Douglas S. Massey & Mark R. Rosenzweig & James P. Smith, 2004. "Immigrant Health--Selectivity and Acculturation," Labor and Demography 0412002, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    development; self-assessed-health-status; diseases; environmental hazards; psychological motives; SHARE; Europe;
    All these keywords.

    JEL classification:

    • I1 - Health, Education, and Welfare - - Health
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development

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